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“ What we understand is that this is a small flexibility that has been given to public sector oil marketing companies (OMCs). I agree, it is difficult to define small quantity, but since we have made 45 paise hike, excluding taxes, we believe future increases will be in this range .”
IOC Chairman and Managing Director R. S. Butola, on diesel price hike strategy
“ My point of view is that financial restructuring should be done through regulatory commissions and should not be done by the states. That means money should be made available, as a financial support, to regulators who should then set targets and against the achievement of those targets, allow the restructuring to happen.”
Tata Power Managing Director Anil Sardana, on debt rejig for discoms
“If growth remains low, the social impact will be unbearable. If we do not create opportunities, where will we get the jobs?... While we shared in the prosperity when the global economy was booming, we too have been affected by the global recession since the last five years.”
Commerce and Industry Minister Anand Sharma
“ Indeed, regulatory regimes are often the basic necessary condition to ensure that environmental and economic objectives are pursued in tandem .”
Prime Minister Manmohan Singh
“Mahindra Satyam has to work two times harder to get business because we always need to explain the role of Mahindras in the rescue of Satyam... It (the Satyam stigma) is behind us completely and it is now one entity focussed on IT engineering services for Mahindras and we are ready for business globally .”
Mahindra Satyam CEO and Managing Director C. P. Gurnani
“ Let us not make a demon of capital flows. They have contributed to strengthening of the Indian economy .”
C. Rangarajan, Chairman of Prime Minister’s Economic Advisory Council
“... RBI has guardedly reduced the policy rates by 25 basis points. Growth-inflation dynamics in the current quarter will decide whether the regulator will follow this up with further cuts… Against this, recovery in growth is expected to be gradual through 2013-14, which again depends on global commodity price trends… It will be, therefore, a challenge for banks to pass on the benefit of the rate cut to push growth and consumption demand without impacting the already slowing deposit growth.”
IOB Chairman and Managing Director M. Narendra, on the RBI rate cut
“ I am very optimistic that India can grow at a (high) rate for the next 20 or 30 years.”
Finance Minister P. Chidambaram
“ The Cash Reserve Ratio (CRR) cut will be welcomed by the markets because it will essentially create more resources for the banks to lend. .”
Planning Commission Deputy Chairman Montek Singh Ahluwalia
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